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The Prada Group closed 2023 with revenues of 4.7 billion euros, up 17% compared to 2022. Retail sales, which absorb approximately 90% of turnover, recorded a positive performance (+17%) also in the fourth quarter of the year, which was difficult on an economic level for the luxury sector. If the Prada brand recorded retail growth of 12%, higher than the market average, Miu Miu (in the photo above, the finale of the spring-summer 2024 fashion show) recorded record growth: +58% compared to 2022 , peaking at +82% year-over-year in the fourth quarter. The brand – founded in 1993 to interpret a more refined femininity – has increased its desirability thanks to a series of launches in leather goods and footwear, but also an excellent performance in ready-to-wear, and a series of collaborations and experiences aimed at increase desirability in VIP customer segments.
Geographically, growth was led by Asia Pacific (+24%) with Japan recording the best performance (+44%). Europe recorded a +14% over the year, with tourist purchases as the drivers. Turnover in the Middle East recorded a +10% while the Americas maintained substantial stability, going from 782 to 767 million. Profitability indices are positive: with EBIT Margin at 22.5%, equal to 1.1 billion euros and the Group’s net profit reached 671 million euros, up by +44% year on year.